Senior Manager, Model Risk Management

Industrial and Commercial Bank of China (Canada); Toronto; On-site; CAD 80,000 - 110,000; Full time

Job summary

Join a forward-thinking financial institution as a Model Risk Manager, where you will develop and implement robust model risk management policies. This role involves conducting model validations, ensuring compliance with regulations, and supporting financial risk monitoring. You'll be part of a dynamic team that values innovation and excellence, working in a fast-paced environment that fosters professional growth. If you have a strong background in finance and model risk management, this is an exciting opportunity to make a significant impact in the banking sector.

Qualifications

• 5+ years in model risk management within the financial sector.
• Strong knowledge of risk management concepts and regulations.
• Proficient in data analysis and machine learning tools.

Responsibilities

• Develop and maintain model risk management policies and procedures.
• Conduct model validations for AML and credit risk models.
• Ensure compliance with OSFI and other regulatory requirements.

Skills

Model Risk Management

Data Analysis

Machine Learning

Financial Regulations

Communication Skills

Education

Business Degree

Finance Degree

Statistics Degree

Financial Engineering Degree

Tools

Excel

Programming

Data Analysis Tools

Job description

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Reports To: Deputy Chief Risk Officer

Employment Type: Full-Time Permanent / Contract

Location: Downtown Head Office

Responsibilities:

1. Develop model risk management policies and procedures, maintain model risk inventory, monitor model risk life cycle, model risk rating and model risk reporting.
2. Develop robust model risk management processes to identify and mitigate model risks.
3. Ensure timely and accurate model risk assessment and address OSFI model risk requirements.

2. Model Validation and Model Risk Oversight

1. Conduct model validations for key models such as AML and credit risk ECL models.
2. Manage model risk and key assumptions within the Bank’s established framework.
3. Ensure models are accurate, reliable, and compliant with regulations.
4. Manage model validation and risk activities throughout the model life cycle.

3. Financial Risk Back-Up

1. Support LCR, Capital, and IRRBB monitoring and reporting, including review of related financial risk models.

4. General Accountabilities

1. Adhere to the Bank's values, Code of Conduct, and Ethics.
2. Communicate risk management strategies and policies effectively.
3. Maintain effective relationships with other functions while ensuring independence.
4. Comply with all relevant policies, regulations, and procedures, including OSFI, FINTRAC, and CDIC requirements.

Qualifications:

1. Educational background in Business, Accounting, Statistics, Finance, or Financial Engineering preferred.
2. At least 5 years of experience in the financial industry focusing on model risk management.
3. Strong understanding of risk management concepts and regulations.
4. Proficiency in Excel, programming, Machine Learning, and data analysis tools.
5. Knowledge of financial market products.
6. Excellent communication skills.
7. Attention to detail and ability to work under pressure in a fast-paced environment.

Seniority level

• Mid-Senior level

Employment type

• Full-time

Job function

• Finance

Industries

• Banking